PhosAgro completes takeover of phosphate rock producer Apatit

10:46 AM MDT | August 27, 2013 | Natasha Alperowicz

PhosAgro (Moscow) announced today that it has completed the consolidation of Apatit (Murmansk, Russia), a producer of high-grade phosphate rock. This announcement follows a squeeze-out of minority shareholders, which was launched on 17 April, at a total cost of 1.99 billion Russian rubles ($60 million). In addition to the squeeze-out, PhosAgro purchased 76% of Nordic Rus Holding, which owns 7.4% of Apatit’s shares, for $141.92 million, equivalent to the price offered under the squeeze-out plus the value of other assets held by Nordic Rus...